Stochastic Optimal Growth with Unbounded Shock

John Stachurski ()

No 777, Department of Economics - Working Papers Series from The University of Melbourne

Abstract: This paper considers a neoclassical optimal growth problem where the shock that perturbs the economy in each time period is potentially unbounded on the state space. Sufficient conditions for existence, uniqueness and stability of equilibria are derived in terms of the primitives of the model using new techniques from the field of perturbed dynamical systems.

Keywords: ECONOMIC GROWTH; ECONOMIC MODELS (search for similar items in EconPapers)
JEL-codes: O32 O40 (search for similar items in EconPapers)
Pages: 31 pages
Date: 2001
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Citations: View citations in EconPapers (3)

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Related works:
Journal Article: Stochastic Optimal Growth with Unbounded Shock (2002)
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